Bitcoin News May 09, 2020

Mike Novogratz, “Rally will be endless, and BTC’ll become the ideal hedge”

Galaxy Digital CEO Mike Novogratz expects Bitcoin rally to be really long since the current economic situation creates favorable conditions for crypto spread.

Bitcoin is in the “leap in maturity” phase

The CEO of Galaxy Digital and a famous crypto enthusiast Mike Novogratz is optimistic about BTC. He claimed that he expected a long-term price rise for the whole crypto market. This follows Novogratz commentary on that 2020 can become “the year of Bitcoin” while the credibility of traditional financial systems is being undermined, and the world economy suffers from the COVID-19 pandemic consequences.

The prominent BTC supporter and former hedge-fund manager Mike Novogratz wrote this on his Twitter referring to the upcoming Bitcoin block reward reduce which, as many suppose, will lead to the price rally.

“Halving is extremely important but the main reason for BTC growth is that new investors choose it in the background of macroeconomic crisis. This would be a very long bullish rally”, noted Novogratz.

The expert underlines that the BTC price increase will be the result of the arrival of new investors, and there are some signs the inflow has already started.

The metric indicators and volumes of information on social media has made BTC price grow for about $1500 in the following two weeks.

Furthermore, the markets of options, futures and derivatives are also growing indicating that investors want to double down. Hedge-fund investors also constituted a large part of institutional investments in the first quarter of 2020.

Criticism of the ‘cash injections’ into the economy

Criticism of the ‘cash injections’ into the economy

Novogratz opinion corresponds with many other views including BitMEX CEO Arthur Heiz who believes that Bitcoin will see $20 000 in 2020. He described his thoughts about the current market state in detail during the web broadcast.

He underlined that the governments took some quantitative easing measures in order to reduce the damage lead by the pandemic. So money are continued to be printed, and the fiscal measures will be prolonged for at least a few months.

The USA with its public debt of $24 trillion have announced the implementation of the new stimulus package amounting to $1 trillion (Investopedia, CNBC).

In the interview with CNBC Novogratz characterized the measures as a “global orgy for money printing” and noted that the current economic environment is the perfect time for investors to enter crypto market or choose gold as a long-term safe heaven, and the opinion was shared by the finance expert Khamat Palihapitia. Novogratz bets that 2020 will definitely become “the year of Bitcoin”.

“Bitcoin will remain volatile during the next following months, but the favorable macroeconomic environment has already been created. This year is the year of BTC”.

The main idea of all the published financial reports was that the confidence in the traditional economic system has been misplaced as it demonstrated its weaknesses amidst the desperate attempts to protect the world economy.

SPACEBOT

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Please Kindly Answer the Following Questions:

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    1. 2.1 Name of Project, supporting both Russian and English
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    3. 2.3 Documentation link (api for developers)
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    6. 2.6 Total Fundraising Amount (url: coinmarketcap.com,coinpaprika.com etc.)
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    11. 2.11 Project promotion Channel like Website, Wechat Official Account, Twitter, etc.
    12. 2.12 Attachment of Source File of Token Logo
    13. 2.13 Is the Project Tokens Based on ERC20 (or other blockchain)?
    14. 2.14 Any Market Value Management?
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In order to get the link through iOS/Android:
1. Send 100 coins to the wallet given by the App: Home screen – Refill
2. Bond 100 coins to the pool: Home scren – Bond
3. Skip to ‘Affiliate program’ section and copy your referral link
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To install the App

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4. If you already have your SPACEBOT Telegram account you need to link it to email. You may find how to do it in ‘How to link email to your SPACEBOT account?’ section.

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How to top up your balance?

Top up your balance with Telegram bot:
1. Go to ‘Wallet’ section
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3. Copy the wallets sent to you (be careful not to copy extra symbols)
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Top up your balance with iOS/Android App:
1. Press ‘Top up’ on the mail screen
2. Copy the wallets sent to you (be careful not to copy extra symbols)
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* Track transaction on the blockchain:
PRIZM – https://prizmexplorer.com
BIP/BTT – https://explorer.minter.network

**Please note that depositing of coins requires certain number of confirmations in the network and it takes time to process a transaction with our algorightm

***Also note that many exchanges and wallets services carry out transfers with delay (on some exchanges it can take up to 72 hours), and you shouldn`t worry since this is a stadard procedure.